Bitcoin, Ethereum, and Altcoins Slide, WAVES Rallies

2 Jun 2022

What will you write today?
Bitcoin price declined below USD 30,000.
Ethereum tested USD 1,800, XRP traded below the USD 0.40 support.
SOL is down 13%, WAVES outperforms.
Bitcoin price started another bearish wave after it failed to clear the USD 32,000 resistance. BTC declined almost 6% and traded below USD 30,000. It is currently (04:33 UTC) showing bearish signs near USD 29,770 and is almost unchanged in a week.
Similarly, most major altcoins reversed gains. ETH declined over 6% and even briefly spiked below the USD 1,800 level. XRP settled below the USD 0.40 support. ADA declined below the USD 0.60 support zone.

Bitcoin price
After a downside break below USD 31,200, bitcoin price gained bearish momentum and declined below the USD 30,000 support level. The bulls are now protecting the USD 29,500 support zone. If there is a clear move below USD 29,500, there is a risk of more downsides. The next major support is still near the USD 28,500 zone, below which the price could dive to USD 27,400.

On the upside, the price is facing resistance near USD 30,200. The next key resistance is near USD 30,500. A clear move above the USD 30,500 level might start a recovery wave.

Ethereum price
Ethereum price also started a fresh decline below the USD 1,920 support. It is down over 6% and there was also a spike below the USD 1,800 level. It is now consolidating losses near USD 1,800, with an immediate support at USD 1,780. ETH is also down almost 7% in a week. The next major support is near USD 1,750, below which there could be a sharper drop.

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